Analyst Says Oil Could Hit $200 Next Year
New York, NY, May 6, 2008--A Goldman Sachs analyst predicted that oil prices could reach $150 to $200 a barrel over the next two years.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
Retail Sales Fell Last Week on Higher Gas Prices
New York, NY, May 6, 2008--Another record week of gasoline prices contributed to a week-over-week decline in retail sales across the nation, according to the International Council of Shopping Centers (ICSC) on Tuesday.
High Diesel Prices Have Truckers Asking for Help
Washington, DC, May 6, 2008-- Record diesel fuel prices already have prompted truckers ask the government for help.
Banks Continuing To Tighten Mortgage Requirements
Washington, DC, May 6, 2008--The Federal Reserve said Monday that more banks are tightening lending standards on home mortgages and other types of loans in response to a spreading credit crisis.
Menards Developing Homes Around Its Stores
Milwaukee, WI, May 6, 2008--Home improvement retailer Menards is creating need for its products by developing homes in residential subdivisions.
Service Industries Index Rises Unexpectedly
Tempe, AZ, May 5, 2008--Service industries expanded unexpectedly last month, perhaps an indication that damaged from the housing slump and credit crisis may be moderating.
Shaw Earnings Down on Slow Residential Business
Omaha, NE, May 3, 2008--Pretax earnings in the first quarter for Shaw Industries fell 44 percent compared to a year ago and management expects earnings this year to fall below 2007, according to a filing with the Securities and Exchange Commission.
Hovnanian Expects Writedowns as Sales Slide
Red Bank, NJ, May 5, 2008--Hovnanian Enterprises Inc. said Monday it expects second-quarter charges of $225 million to $275 million for land impairments and write-offs, due to ongoing sales and pricing declines.
Omnova Solutions Raising Prices Effective May 8
Fairlawn, OH, May 5, 2008--Omnova Solutions' Specialty Chemicals business will increase prices up to $0.06 per wet pound.
Armstrong Per Share Earnings Decline Over 50%
Lancaster, PA, May 2, 2008--Armstrong World Industries Inc. today reported first quarter net earnings of $15.2 million.